Average 30-year mortgage rate drops below 4%

By | General

WASHINGTON (AP) – Oct. 17, 2014 – Average U.S. mortgage rates tumbled this week. The 30-year loan hit its lowest level since June 2013 as Treasury bond yields marked new lows amid concern over global economic weakness. It was the fourth straight week of declines for mortgage rates, making it more affordable to borrow to… Continued

October 17, 2014

Typical Home For Sale Sells In 44 Days

By | General

The most recent Realtors Confidence Index found that homes sold faster in June than the month before. It marked the sixth-consecutive month that properties sold more quickly than the previous month. According to the report – released by the National Association of Realtors – there was improvement across all categories, though short sales and foreclosed… Continued

August 6, 2014

Analysis Says Americans Are Ready To Buy

By | General

A new analysis of the residential real-estate market says housing is stronger than is being reported and is due for more improvement in the next year. Michael Simonsen, co-founder and CEO of Altos Research, said – though media headlines find weakness and disappointment in the recovery – real-time data paints a much more robust picture…. Continued

August 5, 2014

What Features Do Home Buyers Want Least?

By | General

A recent survey conducted by the National Association of Home Builders asked potential home buyers to name the features they wanted in a home and also the things they could do without. The results mirror what many recent surveys have shown. Specifically, that the features home buyers want most this year largely have to do… Continued

August 4, 2014

The Homeownership Rate & Middle-Aged Buyers

By | General

New data released by the U.S. Department of Commerce’s Census Bureau shows the homeownership rate was 64.7 percent during the second quarter of 2014. That’s down from an all-time high of 69.2 percent in 2004 and slightly lower than last year at this time. According to the official data and many media reports, the homeownership… Continued

August 1, 2014

Mortgage Rates Still Unchanged Last Week

By | General

Should you wait? For what? According to the Mortgage Bankers Association’s Weekly Applications Survey, the average contract interest rate on 30-year fixed-rate mortgages with conforming loan balances remained unchanged last week from the week before. Rates were also flat on loans backed by the Federal Housing Administration and 15-year fixed-rate mortgages. Mortgage rates increased slightly… Continued

July 31, 2014

Home Price Increases Continue to Slowdown

By | General

The S&P/Case-Shiller Home Price Indices – considered the leading gauge of U.S. home prices – show increases continuing to slow. According to the most recent release, home prices rose 9.3 percent year-over-year, down from the 10.8 percent increase reported in the last release. David M. Blitzer, chairman of the index committee at S&P Dow Jones… Continued

July 30, 2014

Pending Sales Slip in June – Perfect Timing to Buy?

By | General

The National Association of Realtors’ Pending Home Sales Index measures the number of contracts to buy homes that are signed each month. In June, the index dropped 1.1 percent, though it remains above 100 – which is considered an average level of contract activity. The decline follows three straight months of improvement. Lawrence Yun, NAR’s… Continued

July 29, 2014

Economic Forecast is Seeing Housing Gains Ahead

By | General

The first quarter of 2014 was the worst in five years, according to Fannie Mae’s Economic & Strategic Research Group. That, combined with only a moderate pickup during the second quarter of the year, means economic growth was essentially flat for the entire first half of this year. But despite the slower than expected first… Continued

July 28, 2014

New Home Sales Fall In June

By | General

New estimates released by the U.S. Census Bureau and the Department of Housing and Urban Development show sales of new single-family homes fell 8.1 percent in June. The drop was the largest in a year and put new home sales 11.5 percent below last June’s levels. Following two consecutive months of improvement and an 18.6… Continued

July 25, 2014